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2809 Priestcliff Drive Se Smyrna, GA 30080

3 Beds 3 Baths 2,104 sqft Built 1999

$350,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $166.35
  • 2 Days on Market
  • MLS # : 6818463
  • Updated Date : 12/12/2020 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,104 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

This stunning townhome is just what you've been looking for. Welcome home to a house that will embrace you the minute you arrive. Homey curb appeal from this traditional classic. Tons of light bathe the space. Ample sized laundry room adjacent to the kitchen. The master bedroom/bathroom is MASSIVE with walk in closet found in more expensive homes. Granite kitchen counters, upstairs carpet, ceramic tile in kitchen/bath, interior paint-ALL NEW. Recently installed HVAC, roof is 1 year old, completely fenced in backyard. You don't want to skip seeing this house.

SEE MORE

MARKET HIGHLIGHTS

  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • #1 Most affordable big city (WalletHub, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)

PRICE & RENT TRENDS

Neighborhood: Carrington Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $82k323k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Carrington Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8172022

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Smyrna Elementary School Primary Unknown 929 62 NA
Campbell Middle School Middle Regular 1,416 77 6
Campbell High School High Regular 2,509 135 5

Smyrna Elementary School

  • Education Level: Primary
  • # of students: 929
  • # of teachers: 62
NA
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 1,416
  • # of teachers: 77
6
GreatSchools Rating

Campbell High School

  • Education Level: High
  • # of students: 2,509
  • # of teachers: 135
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,291
Property Tax -$355
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$316

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.05%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$42,324

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,150

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,378

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,4954$2,750
$2,750
RENT COMPS ANALYSIS
  • 2809 Priestcliff Drive Se Smyrna, GA 2
    • 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
  • 2922 Cottesford Way Se Smyrna, GA 1
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1999
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 164 Blakemore Drive Se Smyrna, GA 3
    • 3 beds 4 baths ∙ 2,059 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,059 Sqft ∙ Built 2015
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.21
    •  
  • 2376 Oakwood Way Se Smyrna, GA 4
    • 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,395 Sqft ∙ Built 1987
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.15
    •  
PROPERTY LISTING DETAILS
Whitney White
1.470.403.1612
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6818463
Last Updated: 12/12/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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